Klépierre is Europe’s second-biggest publicly traded mall operator. Credit: MacroEcon via Shutterstock.

France-based real estate investment trust Klépierre has secured its acquisition of Italian shopping mall RomaEst.

With an annual footfall of 10m, it is the 6th most visited shopping centre in Italy and strategically located in a catchment area of 2.2m consumers.

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The 97,000m² mall is one of Italy’s leading retail and entertainment destinations with 214 national and international retail brands including JD Sports, H&M, Inditex, Mango, Primark and Sephora.

The acquisition is Klépierre’s second external growth transaction of 2024 and is part of the group’s strategy to strengthen its portfolio while generating additional net cash flow.

Capital market company S&P [Standard and Poors] increased Klépierre’s outlook from stable to positive and revised its assessment of Klépierre’s liquidity profile from average to strong following the deal.

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Fitch Ratings has also confirmed its A-rating of Klépierre’s senior unsecured debt with a stable outlook, highlighting rent increases, stable occupancy and geographic diversification.

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Klépierre is Europe’s second-biggest publicly traded mall operator. As of December 2023, the company’s portfolio is valued at €19.3bn and is spread across more than 10 companies in Continental Europe.

The company’s investment in RomaEst reflects Italy’s strong retail market, which is estimated to grow at a compound annual growth rate of more than 2% by 2027.